Ethereum Foundation Sells $2.76 Million in ETH, Converting to Stablecoin USDC
- The Ethereum Foundation Just Sold $2.76 Million in ETH
- The non-profit organization responsible for Ethereum development sold 1,700 ETH
- The ETH was converted to stablecoin USDC via Uniswap
- The Foundation spent $48 million on Ethereum R&D and grants in 2021
- The Foundation's ETH holdings are now worth over $500 million
- Previous Foundation ETH sales coincided with price drops in following months